What Credit Score Do I Need for a Chase Credit Card? | The Motley Fool (2024)

FAQs

What credit score do I need for a Chase credit card? ›

Most Chase credit cards are intended for consumers with good to excellent credit scores (FICO® Score of 670 or higher). A score above 700 is even better and gives you a strong chance at approval.

The easiest Chase credit card to get is the Chase Freedom Rise℠, as applicants can get approved for this card with limited credit. This means the odds of approval are good even for people who are new to credit, making the Chase Freedom Rise℠ much easier to get than other Chase credit cards.

What is the 5/24 rule? Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.

The minimum credit score needed to get most Discover credit cards is 700 or above. There are a few Discover cards for which there's no minimum credit score requirement, such as the Discover it® Secured Credit Card which you can get with a bad credit score (below 640).

A rating of 5 is the best a card can receive. Why it's one of the hardest credit cards to get: Chase Sapphire Reserve® is one of the hardest credit cards to get approved for by virtue of the fact that it is one of the best rewards cards on the market.

The starting Chase credit card credit limit varies by card and it could be as low as $500 or as high as $35,000+, depending on the card and your overall credit standing. The issuer, though, only discloses the minimum credit limits for each of their cards.

While there isn't a specific income requirement for a card, evaluating your access to income allows a bank to determine your credit health and whether or not they want to lend you money based on their confidence in your ability to make your payments.

Generally within 14 days of submitting your credit card application, you should receive a decision or a follow-up on your application. It can also take as little as an hour. There are a few major factors that affect the timing.

First Progress Platinum Elite Secured Mastercard: The First Progress Platinum Elite Secured Mastercard requires no credit history or minimum credit score for approval. Your security deposit is refundable, and the card is accepted nationwide.

Chase 2/30 rule: Too many new cards in one month? Some credit card experts believe that Chase is also likely to decline new card applications if you have opened two credit cards within 30 days. This is known as the "2/30 rule." Because I had just opened two new cards, Chase was reluctant to let me open another.

What credit agency does Chase pull from? ›

Based on anecdotal information, Chase generally uses credit data from Experian. However, Chase may opt to review your Equifax or TransUnion credit reports instead depending on which state you live in. That said, Chase reports account information to all three credit bureaus.

We've helped millions travel and experience the world without breaking the bank. The 5/24 rule is an unofficial rule that says Chase will not approve a new credit card application if you've opened five or more new cards in the past 24 months.

In most cases, you need at least good credit to get approved for an American Express card, which FICO typically defines as a score of 670 or higher. Other banks also issue American Express cards.

Apple Card uses FICO Score 9. FICO Score 9 ranges from 300 to 850, with scores above 660 considered favorable for credit approval.

You need a credit score of 700 or higher (good to excellent credit) to get the best Capital One credit card offers. Other options are also available for people with lower scores, as it is possible to get approved for Capital One credit card with limited credit history or a bad credit score.

Chase credit cards are often highly recommended yet they're not always the easiest to get. That's why many folks like to check for Chase pre-approval or prequalification offers before applying. Chase sometimes has a convenient prequalification tool on its website, but the tool is not always available.

Yes, many cards are available to people with a 600 credit score. While you probably won't get approved for a top-tier card, you can almost certainly get a modest, unsecured credit card.

Most Chase credit cards require a good credit score of 700 or higher for approval, in addition to enough income to afford monthly bill payments.